Performance reviews cause strife between finance workers and bosses
Nearly one quarter of finance and accounting workers blame performance reviews for conflicts at work, according to a new survey.
The survey of more than 2,500 financial professionals around the world, Financial Directions Survey, by recruitment firm Robert Half International, found that 24 per cent of Canadian finance and accounting workers see conflicts arise between employers and workers over performance reviews.
However, in the United Kingdom and Ireland, roughly the majority of workers blame pay reviews for causing workplace conflicts (51 per cent and 48 per cent respectively).
"Issues over pay and career progression are clearly a cause of stress for finance professionals," said Ian Graves, managing director continental Europe of Robert Half International.
"Managers need to take a consultative approach and communicate openly with employees about performance and expectations. Employers should aim to work with their staff to set clear goals and objectives to avoid dispute at review time."
Excessive working hours
The survey, which also looks at average working hours, shows 57 percent of accounting and finance professionals work between 36 and 45 hours per week.
Finance professionals in Ireland (31 per cent), Belgium (19 per cent) and the U.S. (15 per cent) are more likely to work between 46 and 55 hours per week, while workers in France (five per cent) and the UK (seven per cent) are less likely.
Alarmingly, eight per cent of finance professionals from the US and seven per cent from Belgium say they regularly work more than 55 hours per week. Workers from Canada, France, Australia, the U.K. and Luxembourg are the least likely to work these hours – all polling less than two per cent in this area.
“Overwhelmingly, the survey shows that the majority of finance professionals are working excessively long hours. To address this issue, change needs to be driven from the top down," said Graves. "Employers should urge their staff to manage their time effectively and offer incentives that help workers achieve a healthy work-life balance – commonly cited as the number one employee concern."
The survey of more than 2,500 financial professionals around the world, Financial Directions Survey, by recruitment firm Robert Half International, found that 24 per cent of Canadian finance and accounting workers see conflicts arise between employers and workers over performance reviews.
However, in the United Kingdom and Ireland, roughly the majority of workers blame pay reviews for causing workplace conflicts (51 per cent and 48 per cent respectively).
"Issues over pay and career progression are clearly a cause of stress for finance professionals," said Ian Graves, managing director continental Europe of Robert Half International.
"Managers need to take a consultative approach and communicate openly with employees about performance and expectations. Employers should aim to work with their staff to set clear goals and objectives to avoid dispute at review time."
Excessive working hours
The survey, which also looks at average working hours, shows 57 percent of accounting and finance professionals work between 36 and 45 hours per week.
Finance professionals in Ireland (31 per cent), Belgium (19 per cent) and the U.S. (15 per cent) are more likely to work between 46 and 55 hours per week, while workers in France (five per cent) and the UK (seven per cent) are less likely.
Alarmingly, eight per cent of finance professionals from the US and seven per cent from Belgium say they regularly work more than 55 hours per week. Workers from Canada, France, Australia, the U.K. and Luxembourg are the least likely to work these hours – all polling less than two per cent in this area.
“Overwhelmingly, the survey shows that the majority of finance professionals are working excessively long hours. To address this issue, change needs to be driven from the top down," said Graves. "Employers should urge their staff to manage their time effectively and offer incentives that help workers achieve a healthy work-life balance – commonly cited as the number one employee concern."
